{"id":28527,"date":"2022-03-30T06:31:25","date_gmt":"2022-03-30T09:31:25","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28527"},"modified":"2026-04-23T10:05:27","modified_gmt":"2026-04-23T13:05:27","slug":"macau-golden-group-terminates-vip-gaming-operations","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-golden-group-terminates-vip-gaming-operations","title":{"rendered":"Macau Golden Group terminates VIP gaming operations"},"content":{"rendered":"\n

Macau Golden Group has said it took the the decision after \u201ccareful consideration\u201d.<\/p>\n\n\n\n\n\n\n\n

Macau.- The junket operator\u00a0Macau Gold Group <\/strong>has ceased all of its VIP gaming operations today (March 30)<\/strong>. It said its 200 employees will receive a reasonable and appropriate dismissal compensation within nine working days.<\/p>\n\n\n\n

As a long-term intermediary partner of SJM Holdings Co, Macau Gold Group\u00a0has operated VIP gaming tables in local casinos\u00a0<\/strong>such as Grand Lisboa, Casa Real Hotel, and the old Hotel Lisboa. In 2005, Macau Gold Group it acquired Casa Real Hotel and Grandview Hotel and in 2010 bought the holding company of Kingston Group for MOP12bn (US$1.48bn).<\/p>\n\n\n\n

The VIP sector has been in crisis following the arrest of\u00a0Alvin Chau Cheok Wa<\/a>, CEO of Suncity Group on cross-border gambling and money laundering accusations. Several casino operators ceased their cooperation agreements with junket operators both due to this and to proposed changes to the city\u2019s gaming laws<\/a>.<\/p>\n\n\n\n

According to the proposed\u00a0amendments to Macau\u2019s gaming regulatory framework<\/a>,\u00a0\u00a0junket operators will only be allowed to provide services to only one casino operator. <\/p>\n\n\n\n

A group of gaming workers affiliated with the\u00a0Macau Federation of Trade Unions<\/strong>\u00a0has sent a letter to the Legislative Assembly committee that’s analysing the final draft of Macau\u2019s gaming law amendment bill to expressing concerns about the future of the satellite casinos.<\/p>\n\n\n\n

A\u00a0final reading of the gaming law amendment bill<\/a>\u00a0is expected by June.<\/p>\n\n\n\n

Golden Dragon Group to close its four satellite casinos<\/h2>\n\n\n\n

As Focus Gaming News previously reported, four satellite casinos owned by Golden Dragon Group will cease operations by mid-year. The group runs Casino Golden Dragon, Royal Dragon and Casino Million Dragon under SJM Holdings\u2019 licence and Grand Dragon Casino in Taipa under Melco Resorts. It reportedly plans to close all four.<\/p>\n\n\n\n

Currently, Macau has 18 satellite casinos operating under a licence associated with one of six casino franchisees but operated by third parties on their premises. Under Macau\u2019s proposed new gambling law, satellite casinos would be allowed to continue operating in the local market but would be given\u00a0a three-year grace period<\/a>\u00a0to link the ownership of their sites to one of the city\u2019s six franchises.<\/p>\n","protected":false},"excerpt":{"rendered":"

Macau Golden Group has said it took the the decision after \u201ccareful consideration\u201d.<\/p>\n","protected":false},"author":176,"featured_media":26708,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau Gold Group, a prominent junket operator, has ceased all VIP gaming operations, citing the ongoing crisis in the VIP sector and impending regulatory changes. Concurrently, Golden Dragon Group announced the closure of its four satellite casinos, reflecting the broader market consolidation driven by proposed amendments to Macau's gaming law, which mandate stricter operational frameworks for junkets and satellite casino ownership.","focusai_entities":"Macau Golden Group, Macau Gold Group, SJM Holdings Co, Grand Lisboa, Casa Real Hotel, Hotel Lisboa, Kingston Group, Alvin Chau Cheok Wa, Suncity Group, Macau Federation of Trade Unions, Legislative Assembly, Golden Dragon Group, Casino Golden Dragon, Royal Dragon, Casino Million Dragon, Grand Dragon Casino, Melco Resorts","focusai_location":"Macau, Taipa","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), payments_fraud_aml (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Impact on SJM Holdings?","query":"What is the projected financial and operational impact on SJM Holdings Co. given the cessation of VIP operations by Macau Gold Group, a long-term intermediary partner, and the closure of satellite casinos operating under SJM's licence?"},{"label":"Satellite Casino Future?","query":"How will the proposed three-year grace period for satellite casinos to link ownership to a franchise impact the competitive landscape and asset valuations for the remaining 18 satellite casinos in Macau?"}],"footnotes":""},"categories":[157,16338],"tags":[23911,23906],"class_list":["post-28527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-gambling-regulation","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=28527"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28527\/revisions"}],"predecessor-version":[{"id":28537,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28527\/revisions\/28537"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26708"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}